Consolidated Document No. 117/2026/VBHN-NĐ-NHNN consolidating the Decree on Gold Business Management

Legal basis

Consolidated Document No. 117/2026/VBHN-NĐ-NHNN (28 Oct 2026) consolidates Decree 24/2012/NĐ-CP, as amended by Decree 232/2025/NĐ-CP (effective 10 Oct 2025) and Decree 390/2026/NĐ-CP (effective 16 Oct 2026).

Scope and subjects

• Covers production, processing and trading of gold jewelry and fine-art gold; production and trading of gold bars; gold import/export; gold account trading and gold derivatives.
• Does not apply to gold mining and refining by gold mining enterprises.
• Applies to organizations and individuals doing gold business in Vietnam and other related agencies, organizations and individuals.

Management principles

• The State Bank of Vietnam (SBV) manages gold business on behalf of the Government.
• Gold bar production and trading are conditional and require SBV licenses.
• Producing, processing and trading gold jewelry is not a conditional investment and business line, but operators must comply with laws on quality, standards, measurement, labeling, price listing, invoices, tax, fire safety, environment, consumer protection and AML.
• Gold derivatives of commercial banks and foreign bank branches follow Article 112 of the Law on Credit Institutions.
• Other gold activities (except gold import/export, domestic raw gold trading by jewelry enterprises and the activities in Art. 4.6, 4.7, 4.8) are restricted businesses requiring Prime Minister approval and an SBV license.
• Gold payments of VND 5 million or more per customer per day must be non-cash.

Gold jewelry

Articles 5-9 were repealed from 16 Oct 2026. The SBV certificate of eligibility for jewelry production issued before that date is no longer a condition; pending applications are terminated and fees paid are handled under fee laws.

Gold bars

• Gold bars may only be traded at credit institutions and enterprises holding an SBV gold bar trading license.
• Enterprises: charter capital of at least VND 100 billion; 2+ years' experience; gold-business tax paid of at least VND 500 million/year for the 2 latest consecutive years (confirmed by the tax authority); network in at least 3 provinces/cities.
• Credit institutions: charter capital of at least VND 3,000 billion; registered gold business; branches in at least 5 provinces/cities.
• Gold bar production license: enterprises with capital of at least VND 1,000 billion; commercial banks at least VND 50,000 billion; both must hold a trading license, have no administrative penalty for gold business (or have completed remedial measures) and have internal production rules.
• Duties of traders: list prices and connect data to SBV; no sales via authorized agents; safety measures; internal transaction rules; retain transaction data (ID for individuals, tax code for businesses, volume, value). Producers must provide warranty.

Gold import and export

• Jewelry: governed by the business or enterprise registration certificate.
• Enterprises and commercial banks meeting Article 11a: SBV grants annual quotas and per-shipment licenses for gold bar import/export and raw gold import.
• Processing-for-foreign-client firms, foreign-invested enterprises and overseas gold-mining investors may obtain raw gold import licenses under specific conditions.
• Gold powder, solution, solder, gold salts, wire, tubes, semi-finished jewelry, and gold for electronics and medical devices follow the enterprise registration certificate, customs law and sector laws.
• Licensees under Art. 14.1 may only import gold bars and raw gold of at least 99.5% purity and must run information systems connected to SBV.
• Licenses and quotas issued before 16 Oct 2026 continue under their stated terms unless adjusted or revoked.

Violations

• Producing or trading gold bars without a license; improper raw gold or gold bar import/export.
• Carrying gold across borders above the limit without a license.
• Using gold as a means of payment.
• Conducting other gold business without Prime Minister approval and SBV license.

Reporting

Enterprises and commercial banks engaged in gold business must report gold bar production and trading, gold imports/exports, and trading, use and inventory of imported raw gold as required by SBV and competent authorities.